According to Foresight News, South Korean blockchain gaming platform WEMIX has announced that its foundation has decided to stop the WENIX token minting rewards for each block. This means that the total supply of WEMIX will remain unchanged or decrease from the block height at which the minting rewards are stopped. The project will use the WEMIX held by the foundation to incentivize ecosystem contributors, which is expected to last for about 20 years. Additionally, the current automatic network fees will be converted to batch destruction, with the destruction rate determined at the end of each quarter.
Following the timeline, WEMIX will release an updated whitepaper reflecting these changes and reallocate token distribution accordingly. Subsequently, WEMIX3.0 will undergo a hard fork, ceasing block reward minting after deployment. The total supply of WEMIX will be determined based on the specified block height and disclosed on data aggregation platforms such as CoinMarketCap and through exchanges. The new block rewards will be distributed through a separately designed 'block reward' wallet by the WEMIX Foundation. The modifications and deployment of WEMIX3.0 are expected to take place in the first quarter of this year. The project team will provide guidance to the community through official announcements before executing each program.